Standard Fire & Special Perils (SFSP)
Up until 1st April 2021, SFSP was the only Fire and Allied Perils product offered by insurance companies to businesses and homes. However, the IRDAI (Insurance Regulatory and Development Authority of India) introduced 3 new products to cater to SMEs, MSMEs, and homeowners.
SFSP now insures only those businesses whose total insurable assets at any one location are worth more than ₹50 Crore
Watch the video to know more
What does SFSP cover?
STANDARD COVER
Fire, Explosion or Implosion
Riots, Strikes & Malicious Damage (RSMD)
Landslides & Rockslides
Aircraft damage
Leakage from automatic sprinkler
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Storm, Typhoon, Hurricane, Flood & Inundation (STFI)
Missile testing operations
Impact damage by a vehicle or animal
AADD-ON COVERS
Earthquake
Deterioration of stocks in cold storage
Terrorism
Professional fees
Forest fire
Temporary removal of stocks
Spoilage material damage cover
Debris removal
Why opt for a SFSP policy?
Exhaustive Coverage
SFSP offers protection against a slew of risks-right from natural calamities to damage from falling objects
Covers all businesses
All business establishments, with annual turnover ₹50 Crore can purchase this insurance policy to safeguard their assets
Fire Package
You can add multiple other insurance policies like Burglary and Theft, Plate Glass insurance, etc. at affordable premiums to expand your coverage
Learn about Standard Fire & Special Perils (SFSP) in detail HERE
If your business’s total insurable assets at any one location are worth less than ₹50 Crore, you may want to consider opting for a Bharat Laghu Udyam Suraksha (BLUS) , or a Bharat Sookshma Udyam Suraksha (BSUS) Insurance policy!
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